Bank Nifty Analysis for 29 June

By | June 28, 2021 9:05 pm
  • As Discussed in Last Analysis Bulls did 1 target on upside and bouncing from gann angles, as bears got stopped out. Now Bulls need to move 34940 for a move back to 35040, 35127 and 35323. Bears will get active below 34721 for a move back to 34634/34444/34291. We will be see impact of Venus Ingress and Moon Saturn cycle tommrow, Bulls need to move above 35400 for a move back to 35576/35729/35885/36000. Bears will get active below 35225 for a move back to 35063/34864/34666.

  • Bank Nifty July Future Open Interest Volume is at 19.8 lakh with addition of 4.8 Lakh, with increase in Cost of Carry suggesting LONG positions were added today. Bank nifty Rollover cost @34909 and Rollover 81.1% closed above it.
  • 36000 CE is having highest OI @4 Lakh resistance at 36000 followed 36500. 35000-36000 CE added 6.6 Lakh in OI so bears added position in the zone of 36000-36500.
  • 34000 PE is having highest OI @3.3 Lakh, strong support at 34000 followed by 33500 .34000-35000 PE added 7 Lakh OI so bulls making support in the range of 34000-34500.

Buy Above 35410 Tgt 35545, 35729 and 35885 (Bank Nifty Spot Levels)

Sell Below 35205 Tgt 35070, 34940 and 34800 (Bank Nifty Spot Levels)

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